TripAdvisor reported a marginal increase in second-quarter profit, as the online travel company clocked strong revenue growth, largely offset by expenses on sales and content. Quarterly earnings fell short of Wall Street estimates, while revenue surpassed expectations. TripAdvisor shares plunged more than 11 percent in after-hours trade.
AT&T Inc. (T) Wednesday said its profit for the second quarter declined from a year ago, hurt largely by higher operating costs that offset revenue growth, reflecting subscriber additions. Both earnings and revenues for the quarter fell short of Wall Street expectations. Moving ahead, AT&T maintained...
Qualcomm reported a 42 percent jump in third-quarter profit, helped by demand for its chips used in smartphones, with results topping Wall Street estimates.
Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit more than doubled from last year, as revenue surged 61% amid strong growth in mobile advertising. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue.
With traders reacting to the latest batch of earnings news, stocks fluctuated over the course of the trading day on Wednesday before eventually ending the session mixed. The Dow ended the day in the red, but the broader Nasdaq and S&P 500 managed to close in positive territory.
Gold futures slipped for a second straight session to end slightly lower on Wednesday, with investors opting for riskier assets tracking rising global equity markets. Nonetheless, the losses were limited due mainly to the escalating tensions in Gaza where fighting between Israel and Hamas rages on unabated....
U.S. crude oil ended higher Wednesday, after an official weekly report from the Energy Information Administration showed crude stockpiles in the U.S. to have dropped more than expected last week.
Meanwhile, reports from Ukraine say pro-Russian rebels have shot down two Ukrainian fighter jets, close...
House Republicans revealed a series of recommendations to address the crisis along the U.S.-Mexico border on Wednesday, although party differences may prevent a final bill from being passed before the August recess.
After initially showing a lack of direction, stocks have moved mostly higher over the course of the trading session on Wednesday. Buying interest has remained somewhat subdued, however, limiting the upside for the markets.
Businessman David Perdue narrowly defeated eleven-term Congressman Jack Kingston, R-Ga., in a runoff for the Republican Senate nomination in Georgia on Tuesday. With all precincts reporting, unofficial results show Perdue with a slim 50.9 percent to 49.1 percent lead over Kingston.
Stocks are turning in a lackluster performance in early trading on Wednesday after moving mostly higher over the course of the previous session. The major averages are showing only modest moves, although the S&P 500 did manage to reach a new record intraday high.
GlaxoSmithKline Plc Wednesday reported a decline in second-quarter profit, reflecting mainly a drop in turnover due to weak respiratory drugs sales, as well as ongoing bribery investigation in China. The company also cuts its core earnings per share outlook for full year 2014. The shares fell more than 5 percent on the NYSE and London.
Bank of England Governor Mark Carney said on Wednesday that interest rate will have to start rising to maintain price stability as the economy normalizes. "As the economy normalizes, Bank Rate will need to start to rise in order to achieve the inflation target," Carney said in a speech in Glasgow, Scotland.
The European Council on Wednesday decided to allow Lithuania to adopt the euro as its currency.
Euro notes and coins will be issued in Lithuania from January 1, 2015. EU's Council of Ministers gave the final green light for Lithuania joining the currency union, following the overwhelming endorsement by the European Parliament, and the European Commission's report on Lithuania's practical prepara
Biotechnology company Biogen Idec, Inc. Wednesday reported 46 percent jump in second-quarter profit, as revenues climbed 40 percent driven by strong sales of multiple sclerosis or MS drugs Tecfidera and Tysabri. The company also lifted its outlook for the full year 2014 once again, citing growth of Tecfidera in the U.S. and Europe, and strength of its other multiple-sclerosis therapies.